Common use of Option Periods Clause in Contracts

Option Periods. The Contract shall have two (2), five (5) year option periods effective November 1, 2042 and November 1, 2047 (the “Option Periods”). The Option Periods will automatically commence unless the Airports Authority provides written notice to the Contractor prior to November 1, 2041 (initial 5-year Option Period) or November 1, 2046 (second 5-year Option Period).

Option Periods. ‌ The Contract shall have two (2), five (5) year option periods effective November 1, 2042 and November 1, 2047 (the “Option Periods”). The Option Periods will automatically commence unless the Airports Authority provides written notice to the Contractor prior to November 1, 2041 (initial 5-year Option Period) or November 1, 2046 (second 5-year Option Period).Period).‌

Option Periods. ‌ The Contract shall have two (2), five (5) year option periods effective November 1, 2042 and November 1, 2047 (the “Option Periods”). The Option Periods will automatically commence unless the Airports Authority provides written notice to the Contractor prior to November 1, 2041 (initial 5-year Option Period) or November 1, 2046 (second 5-year Option Period).